Quarterly report pursuant to Section 13 or 15(d)

SHAREOWNERS' EQUITY (Tables)

v2.4.0.6
SHAREOWNERS' EQUITY (Tables)
 9 Months Ended
Sep. 30, 2012
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
The following is a rollforward of our common stock, additional paid-in capital and retained earnings accounts for the nine months ended September 30, 2012 and 2011 (in millions, except per share amounts):
 
2012
 
2011
 
Shares
 
Dollars
 
Shares
 
Dollars
Class A Common Stock
 
 
 
 
 
 
 
Balance at beginning of period
240

 
$
3

 
258

 
$
3

Common stock purchases
(6
)
 
—

 
(6
)
 
—

Stock award plans
5

 
—

 
4

 
—

Common stock issuances
3

 
—

 
3

 
—

Conversions of class A to class B common stock
(11
)
 
—

 
(15
)
 
—

Class A shares issued at end of period
231

 
$
3

 
244

 
$
3

Class B Common Stock
 
 
 
 
 
 
 
Balance at beginning of period
725

 
$
7

 
735

 
$
7

Common stock purchases
(13
)
 
—

 
(26
)
 
—

Conversions of class A to class B common stock
11

 
—

 
15

 
—

Class B shares issued at end of period
723

 
$
7

 
724

 
$
7

Additional Paid-In Capital
 
 
 
 
 
 
 
Balance at beginning of period
 
 
$
—

 
 
 
$
—

Stock award plans
 
 
414

 
 
 
375

Common stock purchases
 
 
(827
)
 
 
 
(417
)
Common stock issuances
 
 
207

 
 
 
192

Option premiums received (paid)
 
 
206

 
 
 
(150
)
Unsettled portion of accelerated stock repurchase program
 
—

 
 
 
—

Balance at end of period
 
 
$
—

 
 
 
$
—

Retained Earnings
 
 
 
 
 
 
 
Balance at beginning of period
 
 
$
10,128

 
 
 
$
10,604

Net income attributable to common shareowners
 
 
2,555

 
 
 
3,079

Dividends ($1.71 and $1.56 per share)
 
 
(1,670
)
 
 
 
(1,553
)
Common stock purchases
 
 
(565
)
 
 
 
(1,773
)
Balance at end of period
 
 
$
10,448

 
 
 
$
10,357

Schedule of Accumulated Other Comprehensive Income (Loss)
The activity in AOCI for the nine months ended September 30, 2012 and 2011 is as follows (in millions):
 
2012
 
2011
Foreign currency translation gain (loss):
 
 
 
Balance at beginning of period
$
(160
)
 
$
(68
)
Aggregate adjustment for the period (net of tax effect of $(6) and $4)
176

 
(47
)
Balance at end of period
16

 
(115
)
Unrealized gain (loss) on marketable securities, net of tax:
 
 
 
Balance at beginning of period
6

 
12

Current period changes in fair value (net of tax effect of $5 and $10)
7

 
16

Reclassification to earnings (net of tax effect of $(3) and $(13))
(5
)
 
(21
)
Balance at end of period
8

 
7

Unrealized gain (loss) on cash flow hedges, net of tax:
 
 
 
Balance at beginning of period
(204
)
 
(239
)
Current period changes in fair value (net of tax effect of $(38) and $(47))
(64
)
 
(80
)
Reclassification to earnings (net of tax effect of $(16) and $30)
(28
)
 
51

Balance at end of period
(296
)
 
(268
)
Unrecognized pension and postretirement benefit costs, net of tax:
 
 
 
Balance at beginning of period
(2,745
)
 
(2,340
)
Reclassification to earnings (net of tax effect of $50 and $87)
84

 
139

Adjustment for Early Retirement Reinsurance Program (net of tax effect of $2 and $4)
4

 
8

Balance at end of period
(2,657
)
 
(2,193
)
Accumulated other comprehensive income (loss) at end of period
$
(2,929
)
 
$
(2,569
)
Schedule of Deferred Compensation and Treasury Stock Activity
Activity in the deferred compensation program for the nine months ended September 30, 2012 and 2011 is as follows (in millions):
 
2012
 
2011
Shares
 
Dollars
 
Shares
 
Dollars
Deferred Compensation Obligations:
 
 
 
 
 
 
 
Balance at beginning of period
 
 
$
88

 
 
 
$
103

Reinvested dividends
 
 
3

 
 
 
3

Benefit payments
 
 
(14
)
 
 
 
(19
)
Balance at end of period
 
 
$
77

 
 
 
$
87

Treasury Stock:
 
 
 
 
 
 
 
Balance at beginning of period
(2
)
 
$
(88
)
 
(2
)
 
$
(103
)
Reinvested dividends
—

 
(3
)
 
—

 
(3
)
Benefit payments
—

 
14

 
—

 
19

Balance at end of period
(2
)
 
$
(77
)
 
(2
)
 
$
(87
)
Activity Related to Noncontrolling Interests
The activity related to our noncontrolling interests is presented below for the nine months ended September 30, 2012 and 2011 (in millions):
 
2012
 
2011
Noncontrolling Interests:
 
 
 
Balance at beginning of period
$
73

 
$
68

Acquired noncontrolling interests
12

 
3

Dividends attributable to noncontrolling interests
—

 
—

Net income attributable to noncontrolling interests
—

 
—

Balance at end of period
$
85

 
$
71